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Industry Self-Regulation: A Game-Theoretic Typology of Strategic Voluntary Compliance

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  • Simon Ashby
  • Swee-Hoon Chuah
  • Robert Hoffmann

Abstract

We analyse the possibility of successful industry self-regulation in terms of the strategic interactions between industry members and government. In particular, this article presents a game-theoretic typology of generic self-regulatory scenarios and evaluates these in terms of the resulting likelihood of collective compliance. We discuss the advertising, press and life insurance industries in the UK as examples of the scenarios. Conclusions for corporate and public policy are offered.

Suggested Citation

  • Simon Ashby & Swee-Hoon Chuah & Robert Hoffmann, 2004. "Industry Self-Regulation: A Game-Theoretic Typology of Strategic Voluntary Compliance," International Journal of the Economics of Business, Taylor & Francis Journals, vol. 11(1), pages 91-106.
    • Handle: RePEc:taf:ijecbs:v:11:y:2004:i:1:p:91-106
    DOI: 10.1080/1357151032000172255
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    References listed on IDEAS

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    1. Nunez, Javier, 2001. "A model of self-regulation," Economics Letters, Elsevier, vol. 74(1), pages 91-97, December.
    2. Telser, L G, 1980. "A Theory of Self-enforcing Agreements," The Journal of Business, University of Chicago Press, vol. 53(1), pages 27-44, January.
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    4. Young, H Peyton, 1993. "The Evolution of Conventions," Econometrica, Econometric Society, vol. 61(1), pages 57-84, January.
    5. Avner Shared & John Sutton, 1981. "The Self-Regulating Profession," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 48(2), pages 217-234.
    6. Kandori, Michihiro & Mailath, George J & Rob, Rafael, 1993. "Learning, Mutation, and Long Run Equilibria in Games," Econometrica, Econometric Society, vol. 61(1), pages 29-56, January.
    7. Bomsel, O. & Borkey, P. & Glachant, M. & Leveque, F., 1996. "Is there room for environmental self-regulation in the mining sector?," Resources Policy, Elsevier, vol. 22(1-2), pages 79-86.
    8. Shiell, Alan & Chapman, Simon, 2000. "The inertia of self-regulation: a game-theoretic approach to reducing passive smoking in restaurants," Social Science & Medicine, Elsevier, vol. 51(7), pages 1111-1119, October.
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    Cited by:

    1. Nick Lin-Hi & Igor Blumberg, 2017. "The Power(lessness) of Industry Self-regulation to Promote Responsible Labor Standards: Insights from the Chinese Toy Industry," Journal of Business Ethics, Springer, vol. 143(4), pages 789-805, July.
    2. Henry Adobor, 2012. "Ethical Issues in Outsourcing: The Case of Contract Medical Research and the Global Pharmaceutical Industry," Journal of Business Ethics, Springer, vol. 105(2), pages 239-255, January.
    3. Gonzalez, Patrick, 2011. "Certification as a Rationale for Voluntary Agreements," Working Papers 117827, University of Laval, Center for Research on the Economics of the Environment, Agri-food, Transports and Energy (CREATE).
    4. Cave, Jonathan & Marsden, Christopher, 2008. "Quis custodiet ipsos custodies in the Internet: self-regulation as a threat and a promise," MPRA Paper 83193, University Library of Munich, Germany.
    5. Gsottbauer, Elisabeth & van den Bergh, Jeroen C.J.M., 2014. "Environmental policy when pollutive consumption is sensitive to advertising: Norms versus status," Ecological Economics, Elsevier, vol. 107(C), pages 39-50.

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    Keywords

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    JEL classification:

    • C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
    • D7 - Microeconomics - - Analysis of Collective Decision-Making
    • H11 - Public Economics - - Structure and Scope of Government - - - Structure and Scope of Government
    • K20 - Law and Economics - - Regulation and Business Law - - - General
    • L51 - Industrial Organization - - Regulation and Industrial Policy - - - Economics of Regulation

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